Sintana Energy has surged to the top position on the TSX Venture 50, propelled by its significant oil and gas discoveries in the Orange Basin.
The company’s indirect interest in the PEL 83 exploration campaign, led by Galp Energia (80%), Namcor (10%), and Custos (10%), has positioned it as a standout performer among 50 other companies.
With Custos Energy, in which Sintana holds a 49% indirect ownership, the CEO, Robert Bose, emphasized the transformative impact of recent successes in the Orange Basin.
He highlighted the company’s evolution from relatively unknown options to a high-potential indirect interest in a world-class discovery, bolstered by numerous additional prospects and options.
Bose expressed gratitude for being recognized as the top energy performer in the 2024 TSX Venture 50, acknowledging the support of the TMX-Group in facilitating their growth and progress.
Sintana Energy’s entry into Namibia in Q1 2022 strategically positioned the company in the heart of a burgeoning hydrocarbon province.
Subsequent discoveries by industry giants TotalEnergies and Shell in adjacent offshore blocks have validated the region’s immense potential, with over 11 billion barrels of original oil-in-place discovered.
In January 2024, Sintana Energy announced significant light oil discoveries in the Mopane-1X exploration well, further affirming the area’s vast resources.
Estimates suggest up to 10 billion barrels of original oil in place in the Mopane prospect alone, underscoring the region’s significance in the global energy landscape.
The TSX Venture 50 ranking recognizes Sintana Energy as the top performer in the energy sector, showcasing its outstanding growth trajectory.
This annual ranking highlights companies across five sectors based on share price appreciation, market capitalization growth, and trading value.
The collective market capitalization of the 2024 TSX Venture 50 companies amounted to $23.1 billion, reflecting a substantial increase of over $7.5 billion throughout 2023.
Sintana Energy’s remarkable achievements underscore its position as a driving force in the energy sector and a key player in the exploration and development of the Orange Basin.
